DOWN HOME SQUARE - LoopNet · 2019-01-26 · The presentation on this property is submitted subject to errors, omission, changes of price, or ... architects, contractors, other

23431 McSpadon RoadPorter, TX 77365

OFFERING MEMORANDUM

DOWN HOME SQUARE

Sean Harman Kyle Fischer713.332.8213 [email protected] [email protected]

For More Information Please Contact:

15835 Park Ten Place, Suite 150 | Houston, TX 77084The information contained herein was obtained from sources believed reliable; however, Belvoir Real Estate Group, LLC. makes no guarantees, warranties orrepresentations as to the completeness or accuracy thereof. The presentation on this property is submitted subject to errors, omission, changes of price, orconditions, prior to sale or lease, or withdrawal without notice.

PROPERTY INFORMATION 3

LOCATION INFORMATION 8

FINANCIAL ANALYSIS 12

SALE COMPARABLES 14

RENT COMPARABLES 17

DEMOGRAPHICS 19

CONTENTSCONFIDENTIALITY & DISCLAIMER

TABLE OF CONTENTS

23431 McSpadon Road, Porter, TX 77365DOWN HOME SQUARE

All materials and information received or derived from Belvoir Real Estate Group, LLC itsdirectors, officers, agents, advisors, affiliates and/or any third party sources are provided withoutrepresentation or warranty as to completeness , veracity, or accuracy, condition of the property,compliance or lack of compliance with applicable governmental requirements, developability orsuitability, financial performance of the property, projected financial performance of theproperty for any party’s intended use or any and all other matters.

Neither Belvoir Real Estate Group, LLC its directors, officers, agents, advisors, or affiliates makesany representation or warranty, express or implied, as to accuracy or completeness of the anymaterials or information provided, derived, or received. Materials and information from anysource, whether written or verbal, that may be furnished for review are not a substitute for aparty’s active conduct of its own due diligence to determine these and other matters ofsignificance to such party. Belvoir Real Estate Group, LLC will not investigate or verify any suchmatters or conduct due diligence for a party unless otherwise agreed in writing.

EACH PARTY SHALL CONDUCT ITS OWN INDEPENDENT INVESTIGATION AND DUE DILIGENCE.

Any party contemplating or under contract or in escrow for a transaction is urged to verify allinformation and to conduct their own inspections and investigations including throughappropriate third party independent professionals selected by such party. All financial datashould be verified by the party including by obtaining and reading applicable documents andreports and consulting appropriate independent professionals. Belvoir Real Estate Group, LLCmakes no warranties and/or representations regarding the veracity, completeness, or relevanceof any financial data or assumptions. Belvoir Real Estate Group, LLC does not serve as a financialadvisor to any party regarding any proposed transaction. All data and assumptions regardingfinancial performance, including that used for financial modeling purposes, may differ fromactual data or performance. Any estimates of market rents and/or projected rents that may beprovided to a party do not necessarily mean that rents can be established at or increased to thatlevel. Parties must evaluate any applicable contractual and governmental limitations as well asmarket conditions,vacancy factors and other issues in order to determine rents from or for theproperty.

Legal questions should be discussed by the party with an attorney. Tax questions should bediscussed by the party with a certified public accountant or tax attorney. Title questions shouldbe discussed by the party with a title officer or attorney. Questions regarding the condition ofthe property and whether the property complies with applicable governmental requirementsshould be discussed by the party with appropriate engineers, architects, contractors, otherconsultants and governmental agencies. All properties and services are marketed by Belvoir RealEstate Group, LLC in compliance with all applicable fair housing and equal opportunity laws.

Section 1

PROPERTYINFORMATION




Belvoir Real Estate Group is pleased to present this easy to manage, turn‐key newly constructed asset. Down Home Square Apartments provides anopportunity for an investor to take advantage of a strong rental market with low vacancy and increasing rents. The property is completely turn-keywith no deferred maintenance and is currently 100% Occupied.

PROPERTY OVERVIEW

Down Home Square is located in one of the largest growing developments in Texas! Less than 2-Miles away from a Super-Regional Hub, whichincludes national and local businesses. Area national chains include: Academy Sports & Outdoors, Cinemark Theatre, Hobby Lobby, KrogerMarketplace, and Multiple Restaurants. Multiple entertainment options, civic destinations, and a world-class amphitheater.

LOCATION OVERVIEW

PROPERTY DESCRIPTION





DEMOGRAPHICS1 MILE 5 MILES 10 MILES

Total Households 672 16,784 99,219

Total Population 2,095 48,935 296,595

Average HH Income $76,778 $77,001 $82,496

OFFERING SUMMARYAnticipated Completion Date December 2019

Number Of Units 38

Total Size 155,945 SF

Site Acreage 3.58

Current NOI (12 Units) $153,419

Pro Forma NOI $490,722

Offering Price $9,000,000

EXECUTIVE SUMMARY





SALE HIGHLIGHTS• Luxury Amenities

• New Hard Wood Floors

• Granite Counter Tops Throughout

• Includes Stove and Microwave

• Comes With Dishwasher and Refrigerator

• Washer and Dryer Connections

• Private Deck and Patio

• Two Reserved Parking Spaces

• Fenced Backyard Area

• Separately Metered Units

NEAR BY• Porter Elementary (0.21 Miles)

• White Oak Middle School (1.12 Miles)

• Porter High School (2.89 Miles)

• Lone Star College (3.03 Miles)

• Kingwood Medical Center (3.13 Miles)

COMPLETE HIGHLIGHTS





ADDITIONAL PHOTOS


Section 2

LOCATIONINFORMATION




DEMOGRAPHICS 1 MILE 5 MILES 10 MILES

Total population 2,095 48,935 296,595

Median age 31.4 32.3 33.3

Median age (Male) 31.4 31.8 32.1

Median age (Female) 31.4 32.6 34.2

Total households 672 16,784 99,219

Total persons per HH 3.1 2.9 3.0

Average HH income $76,778 $77,001 $82,496

Average house value $162,886 $148,036 $161,467

The Down Home Square Apartments are conveniently located between Kingwoodand Porter, Texas. With easy access to Interstate 69 and the growing communitiesalong Highway 99 Grand Parkway. This central location offers a reasonablecommute to Downtown Houston, as well as surrounding areas.

LOCATION OVERVIEW

LOCATION OVERVIEW





LOCATION MAP





RETAIL MAP


Section 3

FINANCIAL ANALYSIS

Number

of Units Unit Rent

Monthly

Revenue

Yearly

Revenue

Number of

Units Unit Rent

Monthly

Revenue

Yearly

Revenue

12 $1,225 $14,700 $176,400 32 $1,285 $41,120 $493,440

0 $0 $0 $0 6 $1,645 $9,870 $118,440

12 $14,700 $176,400 38 $50,990 $611,880

% of GSI

$176,400 $611,880

-$8,820 5.0% -$30,594

$167,580 $581,286

% of AGI

$754 0.5% $5,232

$1,676 1.0% $11,335

$838 0.5% $16,160

$1,676 1.0% $7,266

$9,217 5.5% $50,572

$14,161 8.5% $90,564

$153,419 $490,722

$9,000,000

5.5%

Current Data Future Performance at Market Rates

Unit

Description

2 Bed - 2 Bath

3 Bed - 2 Bath

Unit

Description

Net Operating Income

Gross Scheduled Income

Adjusted Gross Income

2 Bed - 2 Bath

3 Bed - 2 Bath

0.9%Utilities (Water & Electric)

Taxes

Insurance

Management (Marketing, Admin, Etc.)

Maintenance (Lawn, Trash, Repairs)

% of GSI

5.0%

% of AGI

Current Data Future Performance at Market Rates

Listing Price

Cap Rate

Vacancy Loss

Total Expenses

2.0%

2.8%

1.3%

8.7%

15.6%

Section 4

SALE COMPARABLES




SALES COMPARABLES





SALES COMPARABLES


Section 5

RENT COMPARABLES




RENTAL INFORMATION


Section 6

DEMOGRAPHICS




POPULATION 1 MILE 5 MILES 10 MILES

Total population 2,095 48,935 296,595

Median age 31.4 32.3 33.3

Median age (Male) 31.4 31.8 32.1

Median age (Female) 31.4 32.6 34.2

HOUSEHOLDS & INCOME 1 MILE 5 MILES 10 MILES

Total households 672 16,784 99,219

# of persons per HH 3.1 2.9 3.0

Average HH income $76,778 $77,001 $82,496

Average house value $162,886 $148,036 $161,467

RACE 1 MILE 2 MILES 3 MILES

% White 81.3% 80.4% 75.3%

% Black 4.4% 7.9% 13.5%

% Asian 2.5% 2.4% 2.7%

% Hawaiian 0.0% 0.3% 0.4%

% American Indian 0.1% 0.4% 0.3%

% Other 9.9% 6.5% 5.8%

* Demographic data derived from 2010 US Census

DEMOGRAPHICS MAP & REPORT


Documents

DOWN HOME SQUARE - LoopNet · 2019-01-26 · The presentation on this property is submitted subject to errors, omission, changes of price, or ... architects, contractors, other